1105.50 was the premarket open high. This is not a bad place to short the market when you suspect that swing traders will start to take profits. It took a while, but the market finally started to tumble when it reached 1104 just prior to 1100 ET.
As the ES Futures was testing the high, only MCD, representing Discretionary Stocks, was looking bullish. All other sectors were weaker, and not confirming the advance.
Charles
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